Is it Possible? Applications Groups in Dock

I have too many applications in my dock (something like 38 items) and i was wondering if it was possible to group applications in the dock? I guess kind of having a sub dock (One for Final Cut Studio, Creative Suite, & MS Office). I have a 24" Wide-screen monitor (1920x1200) and my dock is almost as wide maybe 1000px.

I just want to know if its possible, not whether you think its a good idea

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